Solana’s 40% rally from $95.23 faces a risk from a capturing star candlestick.
Technicals present bullish MACD however fragile momentum with $125–$128 help key.
Macro pressures and competitors problem SOL’s potential to maintain the $147.60 push.
The Solana worth has climbed 40% from a 1-year low of $95.26 registered on Binance final week, reaching $131.32 on April 15, 2025.
This worth surge, a lot of it taking place up to now week, has ignited the potential of Solana (SOL) recovering from its three-month downtrend.
What’s behind the present Solana worth surge?
One of many key elements fueling the present Solana worth is the extremely anticipated launch of Canada’s first spot Solana ETFs with staking capabilities.
Canada is readying spot Solana ETFs to launch this week after regulator gave inexperienced mild to a number of issuers incl Objective, Evolve, CI and 3iQ. ETFs will embody staking through TD pic.twitter.com/FSw149Xkm4
— Eric Balchunas (@EricBalchunas) April 14, 2025
These ETFs, accepted by the Ontario Securities Fee, will permit traders to earn rewards via staking, boosting SOL’s demand.
As well as, the resilient NFT exercise on Solana and Web3 integrations additionally helps the upward trajectory.
Final however not least, there’s the Enterprise capital backing for Solana-based tasks, which underscores Solana’s long-term enchantment regardless of market volatility.
Solana worth technical evaluation
Following the present worth surge, Solana has damaged out of a three-month falling wedge.
Nonetheless, a capturing star candlestick fashioned on the every day chart yesterday, signaling potential bother for this rally.
This bearish sample, showing after SOL hit $134.19, suggests rejection and a doable pullback.
The 50-day EMA at $136 now acts because the short-term dynamic resistance, which if crossed might set the stage for a significant bull run.
In the meantime, the 20-day EMA at $124.28 supplies help, conserving the long-term pattern bullish.
The RSI, at 54.12, displays gentle bullishness however lacks robust momentum to verify a breakout.
Solana worth prediction
Solana’s potential to maintain its bullish momentum faces important hurdles.
Macro pressures, together with geopolitical dangers and US Federal Reserve coverage hypothesis, weigh on danger belongings like cryptocurrencies.
Additionally, competitors from newer layer-1 blockchains, resembling Sui and Aptos, challenges Solana’s market share.
As well as, previous community congestion points, although much less frequent, nonetheless linger in investor minds.
And though the SOL/ETH worth ratio lately surged to eight.1% highlighting Solana’s relative power, Ethereum’s underperformance could not persist for lengthy.
The technical indicators current a combined outlook for Solana’s near-term path.
A bullish MACD crossover, with the blue line surpassing the orange sign line, hints at rising purchaser power, with rising inexperienced histogram bars reinforcing this short-term shopping for stress.
Nonetheless, the capturing star’s look close to the $134.19 resistance raises considerations about exhaustion.
A break beneath the fast help at $125–$128, which has been examined a number of occasions lately, might push SOL towards the psychological $100 stage, a 50% retracement from its 2023 rally.
Nonetheless, if patrons defend $125 and macro sentiment improves, a push towards $147.60 resistance is feasible.
However and not using a decisive bullish catalyst, consolidation between $125 and $145 appears doubtless.
The put up Solana rally in danger as bearish capturing star seems on every day chart appeared first on CoinJournal.
